Selling Real Estate Without A Realtor
A realtor, sometimes called a selling agent-if you are the seller, is a person who acts as a mediator between the seller and potential buyers of the house. They are commission-based workers upon selling a real estate and selling a house with a realtor will make it easier for the vendor, saving their time and effort since they already know what to do. At the same time, it grants the vendor the opportunity to bank money and spend on things that are more important.
On the other hand, what tasks to finish if a realtor is not possible? What are the things that need to consider? To be done? To prepare? To do? Or not to do? Here are guidelines that may be of help.
Know the Market
In order for sellers to be familiar with the business, one must do research. Know the fundamentals of selling in order to get a good sale of your home. Have a brief background on marketing proposal. Be as professional as you can. Know how to start selling a house competently and knowledgeable. Read blogs, articles, books, ask advice from professionals that can be of assistance. Talk to a friend, a colleague that already had an experience in selling his or her own home. Gather all information and formulate a selling strategy.
Invest in a For Sale By Owner Real Estate Book
Get A Book Or Two On the Subject Of Selling Your Home Yourself Without A Realtor, Selling Agent, Broker or whatever term is used in your area. A couple of good books on the subject would include:
Suzanne Kiffmann (Author)
Chantal Howell Carey (Author)
Bill Carey (Author
Put in Order the Documents Needed
Vendors must be aware of all the legal papers that are involved during the process. These documents may be tax assessment records and payments, Bill of Sale, Mortgage, disclosure forms and even financial documents when the house was first bought. Preparation of these kinds of documents may avoid delay of sale. So if ever a possible buyer asks for a document, no need to schedule another meeting because it is already in your hands. Make a timetable of the things that needs to fix if you are in a hurry in selling the house.
Get A Real Estate Lawyer
Even though you are selling your home on your own without an agent, you should still have a lawyer to help you draw up legal documents and help you during the closing. The buyer will be having legal representation and you want to make sure you have your assets covered as well.
Prepare your Home
Make necessary repairs. At the same time, have a financial plan for it. Provide quality repairs. Check plumbing and fixtures. Paint the walls with neutral colors. Remove personal belongings for safety. Put together a theme that is appropriate for the house and your target market. Make every part of the buyer’s future home presentable. Clean the entire house and that includes the interior and exterior parts like garage, garden, and the basement up to the little details of the house. Replace rugs, hand towels, refresh the comfort room and the kitchen. Make an excellent first impression. This will attract more buyers. Make them feel home the moment they entered the house.
Sell and benefit from furniture, possessions, and equipments that are not that important. Find a storage place to get rid of things out of your house that you still want to keep.
Value your Home
Know the worth of your home. Compare real estate listings with consideration to conclude at a reasonable price. The price is one the major factors that affects the decision making of buyers. Seller should let the buyers recognize indirectly that the house in front of them is a good investment. Always make it a win-win situation.
Moreover, decide how much you are willing to trim the asking price. Three percent to five percent is substantial. Do some research on other properties that were sold within your neighborhood in the past six months as the basis. If seller still has issues with the price, hire an appraiser to evaluate properly your home.
Market your Home
This is an important element of selling your house; letting everyone know that you have something that they would like to buy. Make sure that your timing is perfect. Pick a time of the year like summer before the school starts. To be able to market your home properly, identify the basic information. The lot size, how many rooms, location, accessibility to public necessities like schools, church, police stations, etc. There are many ways to market your home, and the most basic is to put up a “For Sale” sign outside your house. In addition, advertise through the internet, take pictures of different parts of the house together with the price, features, amenities, descriptions and answers to frequently asked questions and post it on different social networking sites and different websites that you can find for free. Make a video tour of your home, it will be less of a hassle and beneficial if the potential buyer do not have time to visit the place personally. Make attractive flyers and posters to promote. Make sure to include your contact details in every post. Do not forget the very basics of advertising by the word of mouth to your friends, families, office mates or colleagues.
Finally, planning for an Open House or be available whenever possible buyers wanted to see the house personally. Before advertising the Open House, arrange the schedule together with your family members so that when probable buyers will come to visit, they will have privacy in looking and inspecting the house themselves.
Contact a "We Buy Houses" Specialist
There are business who specialize in buying and reselling houses. If you are desperate and need to sell your home right away, you may want to contact one of these "we buy houses" specialists. The only drawback is that you have to be prepared to take a reduced price offer for your homes in order for them to make a profit. If you are not in a desperate situation, it is best to sell your house the old fashioned way. However, contacting a "we buy houses" specialist is an option if you need to sell right away.
Negotiating the Price
Along the process of showing the house to different potential buyers, seller may encounter different good offers. Negotiating the final price will always be a part of selling. With that, seller has to make a list of pros and cons of each offer to get the best deal. Meet the potential buyer halfway; remember to put yourselves in their shoes. Handle price negotiation professionally as if you are the realtor.
Closing the Deal
Upon agreement, make sure to make a contract that has the settled price, payment of terms, turnover date, transfer of title and other legal matters. It is best to consult a lawyer regarding this matter to avoid misapprehension in the future and to protect both parties.
Start by having a positive attitude that your house will sell. Prepare well for all possible circumstance that may arouse financially or emotionally. Selling a house without a realtor is not easy, it is tiring and demanding but at the same time, a learning experience to the homeowner.